IndiGrid Infra Trust to acquire stake in Gadag Transmission

3 Dec 2025 , 11:47 AM

IndiGrid Infrastructure Trust Limited announced that it has executed into definitive agreements to acquire Gadag Transmission Ltd. The transaction has an enterprise value of about ₹372 Crore, excluding any net working capital and cash adjustments.

The transaction structure also states an ear-out to be paid to the sellers linked to change-in-law, availability, and bilateral billing components. These are payable only when such payments are received.

The company announced that Gadag Transmission Ltd is an inter-state transmission system project. It is operating under the build-own-operate-maintain model. It forms the first phase of the transmission infrastructure planned to evacuate nearly 2,500 MW of solar power from the Gadag Solar Energy Zone in Karnataka.

The company said that the project has been operational since September 2024. The asset includes about 187 circuit kilometres of transmission lines and a 1,000 MVA substation. Additional scope of the project includes augmentation as part of the wider expansion plans.

ReNew Transmission Ventures Private Ltd (RTVPL), and KNI India AS jointly own 51% and 49% stake in Gadag Transmission Ltd. 

On completion of this transaction, IndiGrid will acquire complete shareholding and management control as per the provisions of the definitive and concession agreements. This also includes some lock-in conditions attached.

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